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Morrie Ruffin, Vice President of Business Development, to Testify Before SBA

WASHINGTON, D.C. (June 16, 2005) -- Morrie Ruffin, vice president of business development for the Biotechnology Industry Organization (BIO), will testify Friday at a Small Business Administration (SBA) field hearing regarding Small Business Innovation Research (SBIR) grants.

BIO opposes the SBA’s interpretation of eligibility requirements for SBIR grants. Companies that are 51 percent owned by a group of venture capital firms are no longer eligible for SBIR grants under the current interpretation.

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products.